Owners will receive proceeds worth $2.5m to $4.4m.
The 160-unit development at Sunset Way, Brookvale Park, has been sold for $530m or $932 psf ppr, JLL said.
JLL regional director Tan Hong Boon said the owners would expect to receive gross sales proceeds of between $2.5m to $4.4m per unit.
According to a press release, the 999-year site is zoned residential with a gross plot ratio of 1.6. The site may be redeveloped into a condominium development with a total gross floor area of about 656,494 sqft, including a 10% bonus balcony area.
Over 80% of the owners have consented to the sale.
Brookvale Park is located within the exclusive upper-middle class Sunset Way enclave designated for two-storey bungalows and private residential developments. It is a short drive away from Holland Village, Bukit Timah Nature Reserve and near to reputable tertiary and international education institutions.
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